T&D Life Group conducts various CSR activities based on the "T&D Life Group CSR Charter." As a core company of T&D Life Group that provides asset management services, T&D Asset Management conducts its CSR activities through our core competency in asset management. As an example of our CSR activities, we would like to introduce our efforts for universities in Japan.

We feel the importance of CSR is to contribute broadly to society by utilizing our core competency. Among the many social issues that exist today, we have decided to focus on "higher education" as an issue where our expertise can make a difference.

As a result of declining birthrate, Japan's population is expected to decline rapidly. In order for Japan to maintain and expand its economic growth, it is important to raise per capita income. In order to accomplish this, "higher education" plays a vital role. In terms of global competitiveness, raising the awareness of the impact "higher education" has on the future of Japan is critically important. More specifically, we feel increasing the competitiveness of Japanese universities should be a high priority.

Japanese universities own a substantial amount of financial assets. However, investment return as a proportion of total revenue is not large. Financial assets are not always managed with a clear investment policy.

Investment program for a university cannot simply take risk to generate return. It is important to establish investment objective that is in accordance with the operational plan of a university's long-term mission. Understanding investment vehicles and strategies, setting expected rate of return, evaluating investment results, and establishing governance structure are some of the issues that must be tackled before an investment program can start.

Finding experts in the area of asset management is still a challenge for the majority of universities. We feel it is important for universities to rely on outside investment managers to achieve operational excellence. Therefore we believe in the importance of enhancing the knowledge of university staff in order to establish a sound investment program.

By utilizing our core competence in asset management services, we want to be part of a solution for universities in need of assistance. Our goal is to assist universities establish best practice in the area of asset management and governance in order to help strengthen their financial foundation.